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An economy which is ‘less about me and more about us’

neil strelka photo 1‘Look, we need to break the b******t bubble’. So said a bullish speaker at the Sustainable Economic Growth for Regional Australia event in Coffs Harbour, New South Wales last month. By this they were referring to a delusional state, in which economic growth is talked up as the solution to all issues, but is in fact failing to deliver economic wealth for all, and outstripping environmental limits.

Many of the sessions in the four day event explored how we get a modern inclusive economy which works for and sustains rural areas, indigenous people, remote Australia and the regions. Underpinned by mineral wealth, the Australian economy has never been in recession. However, like the world over, there are the restless and concerned, who are far from complacent. The event had an edge, with a significant minority pushing the parameters and striving to break convention.

Breaking with convention will need a number of things. Not least a sense of urgency, which is often absent given the Australian lack of financial travails endured by us in Europe. A speech from the new deputy prime minister and minister for infrastructure and regional development Warren Truss, which preceded my own, presented many positive sentiments as regards the importance of regional Australia. However, his speech was worryingly absent on how the non-city areas of Australia should develop in the future, their role within a modern globalised economy, social inclusion and working with environmental change.

The local elected councillors, mayors and officials at the event are blessed to be working in some unique local places, with some isolated local economies serving local needs and demands, often rich in agricultural wealth and splendid natural environments. Many of the delegates perceived the need for an economic development which ‘snuggled’, and did not erode heritage and environment – an economic development which worked for people and their bit of the planet more.

I had numerous discussions about developing a local distinctiveness to economic growth, the future of a steady state economy and a future of no economic growth at all. In particular, I was struck by some who conveyed a sense that the future was about actually creating economies which were less about individuals, and more about the collective represented by communities and common heritage. Indeed, I left with the bullish speaker’s words ringing in my ears, who followed up his bad language with a much more poetic comment: ‘We need to bust the bubble by thinking less about me and more about us’. Ripper!

Neil Mclnroy
Neil McInroy is chief executive of the Centre for Local Economic Strategies (CLES)
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